The practical answer
A first machine may be considered, including for some newer businesses, if the application explains experience, work and repayments.
Provide the digger quote, expected jobs or hire demand, relevant experience and a cash forecast covering transport, insurance, servicing and idle time. Show how the initial payment will be funded.
Explain whether you will operate it yourself or hire it out. These are different business models and can affect lender appetite and the permissions needed in the agreement.
Commercial finance is subject to status, lender approval and the specific asset and transaction. The right structure depends on the complete circumstances of the business.
What should I do next?
Have the asset details, supplier information and an outline of what the business needs ready. DCF can then discuss the requirement and identify which lenders may be suitable.
Read: Excavator finance →Explore the relevant guides
CNC & manufacturing finance — For production machinery, tooling and commissioning plans.
New-start asset finance — For limited trading history, director experience and supporting evidence.
Plant & machinery finance — For construction, agricultural and other productive equipment.